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COA flags AFP for unauthorized bank accounts, unfinished contracts enablePagination: false endIndex: Metro Manila (CNN Philippines, July 13) – The Commission on Audit (COA) flagged the Armed Forces of the Philippines (AFP) for its unauthorized bank accounts worth ₱1.8 billion and dozens of incomplete projects amounting to about ₱6.8 billion. The latest COA report showed the 20 unauthorized bank accounts worth a total of ₱1,812,797,567.87 were deposited in different banks such as Land Bank of the Philippines, Development Bank of the Philippines, and United Coconut Planters Bank. COA said the AFP Modernization Act Trust Fund has the highest remaining bank account balance with more than ₱1.3 billion in three bank accounts under its Central Office, followed by the AFP Educational Benefit System Office (EBSO) with eight bank accounts that totaled ₱347.48 million. ....
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By JON VIKTOR D. CABUENAS, GMA News Published July 11, 2021 3:15pm The Department of National Defense (DND) said it was having difficulties closing bank accounts under the Armed Forces of the Philippines (AFP), which state auditors had flagged for being unauthorized. The Department of National Defense (DND) said it was having difficulties closing bank accounts under the Armed Forces of the Philippines (AFP), which state auditors had flagged for being unauthorized. In a statement released Sunday, the DND said it has already released guidelines to the AFP regarding the unclosed bank accounts, following the Commission on Audit (COA) report. “The DND-AFP has been processing the closure of these accounts in adherence to the COA guidelines,” the statement read. ....
Published July 11, 2021, 3:34 PM The Department of National Defense (DND) clarified Sunday, July 11, that some of the “unauthorized” bank accounts of the Armed Forces of the Philippines (AFP) that were flagged by the Commission on Audit (CA) cannot be closed immediately as these contain the depository accounts of the military’s on-going projects. A Philippine flag is hoisted as Defense Secretary Delfin Lorenzana (right) talks to Armed Forces of the Philippines Chief of Staff Gen. Cirilito Sobejana during the celebration of the 123rd Philippine Independence Day on June 12, 2021. (Photo courtesy of DND) Defense Secretary Delfin Lorenzana said he already issued a guidance to the AFP through its Chief of Staff, Gen. Cirilito Sobejana, to expedite the closure of some 20 bank accounts with a total balance of P1,812,797,567.87 that were maintained “without the required authority.” ....